Hi all,
I know there are some BTL people here. Few questions.
I will be opening BTL LTD.
What is the best way to get my personal money in it?
Shares? Shares classes? Director's loan? Just loan?
This money will be used to buy properties in LTD's name.
I also have 2 BTL properties now, which I want to transfer into the BTL LTD, to avoid 40% tax on the rent income when I become permie.
What is the best way for that?
Donate them to LTD? Sell them at market value to LTD (for the money I already paid into LTD)? Sell them for £1 to LTD? Latter 2 will involve stamp duty.
I guess if I donate or sell for £1 (if allowed) one day if I want to sell them from the company I will have to pay corp tax on the profit from the sale which will effectively 100% profit. Provided I have paid tax on the money I purchased the properties I dont want to pay corp tax on 100% of the sale price.
What is your view on that? Or recommend a property business accountant/advisor.
P.S. My accountant is an IT accounts specialist so no clue.
I know there are some BTL people here. Few questions.
I will be opening BTL LTD.
What is the best way to get my personal money in it?
Shares? Shares classes? Director's loan? Just loan?
This money will be used to buy properties in LTD's name.
I also have 2 BTL properties now, which I want to transfer into the BTL LTD, to avoid 40% tax on the rent income when I become permie.
What is the best way for that?
Donate them to LTD? Sell them at market value to LTD (for the money I already paid into LTD)? Sell them for £1 to LTD? Latter 2 will involve stamp duty.
I guess if I donate or sell for £1 (if allowed) one day if I want to sell them from the company I will have to pay corp tax on the profit from the sale which will effectively 100% profit. Provided I have paid tax on the money I purchased the properties I dont want to pay corp tax on 100% of the sale price.
What is your view on that? Or recommend a property business accountant/advisor.
P.S. My accountant is an IT accounts specialist so no clue.
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